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Your VET Newsletters, Publications and Media Releases for 23 February 2023
Feb 23, 2023
Leading Indicator of Employment - See the Latest Release
The Monthly Leading Indicator of Employment (the Indicator) has fallen for the eleventh consecutive month.
The fall this month is due to declines in four of the five Indicator components, especially the NAB Forward Orders Index and the US 10-year 3-month yield difference.
The Indicator’s confirmed peak in March 2022 is signalling a downturn in cyclical employment and a slowdown in the annual growth rate of employment to below its long-term trend rate of 2.1 per cent in the near term—employment (in trend terms) grew by 3.5 per cent over the year to January 2023.
Cyclical employment has been rising since January 2022 and is expected to peak later this year—the average lead time of the Indicator is about 12-18 months.
See the full release from the Department of Employment and Workplace Relations here.
Date posted Feb 23, 2023
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